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OKB Price Gains Momentum as OKX Launches Copy Trading

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OKB price soared on Tuesday after OKX introduced a new copy trading feature in its ecosystem. The token surged to a high of $32.5, the highest level since May 2021. It has surged by more than 231% from its lowest point in 2022. OKB has been one of the best-performing cryptocurrencies in the industry.

OKX copy trading feature

OKX is one of the biggest crypto exchanges in the world. At its peak, the company served millions of customers from around the world. It describes itself as the second-biggest exchange in the world by volume.

OKX has achieved this growth through a number of initiatives. For example, it partners with leading teams like McClaren Racing and Manchester United. It also sponsors well-known athletes like Daniel Ricciardo and Ian Poulter.

In a statement on Tuesday, OKX said that it had launched a copy trading tool in its website and apps. The service makes it possible for people to copy trades from other experienced professionals in its ecosystem. It can be used by both experienced individuals seeking to diversify their income.

Inexperienced traders can also use the service to make money without doing the real trading. In a statement, Haider Rafique, the CMO of OKX said:

“In the last year we have added a number of features that make it easy for new traders to follow or learn from other successful traders on the platform. Advancing social trading to include copy trading now adds more utility to the community of traders available to anyone on OKX.

Copy trading is not a new technology. It was initially introduced by eToro, a leading player in the financial services industry. It has then been embraced by leading forex and CFD brokers. OKX is the first crypto exchange to adopt the technology.

OKX is doing well

OKB price

Data shows that OKX is doing better than other crypto exchanges. Its total assets have rise to more than $7.2 billion, making it the third-biggest exchange after Binance and Bitfinex. Coinbase is not listed by DeFi Llama. 

Further, it has seen inflows in the past few months. Its total inflows rose by $44 million in the past 24 hours and by $67 million in the past 7 days. All these factors explain why the OKB token has done better than most cryptocurrencies in the past few months.

 

Crypto

BNB Price Surges Past $300, Faces Crucial $339 Hurdle: What’s Next?

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BNB price has noted significant gains over the past few days, surging past the psychological resistance of $300. The native cryptocurrency of the Binance Exchange has surpassed Solana to regain its position as the fourth-largest cryptocurrency by market cap. The digital currency has been rallying lately with a 7-day profit of more than 15%. Additionally, BNB has clocked a phenomenal gain of 38% in the month to date.

Binance Coin Outlook

BNB price has been on a strong bull run for the past week, breaking out of its consolidation. Even so, the asset has experienced a correction in its uptrend over the past 24 hours but remains above the crucial level of $300. BNB’s total market cap has decreased by 4% over the past day to $48 billion, while the total volume of the asset traded over the same period dipped by about 15%.

Over the past year, Binance Coin has had to cope with Fear, Uncertainty, and Doubt (FUD)  on the back of the regulatory troubles of its underlying exchange. Earlier, the BNB price touched a low of $223.50, a few days after its former CEO, Changpeng Zhao, pleaded guilty to money laundering charges. However, the cryptocurrency has managed to rebound 46% in value since then.

The recent price rally has been associated with various positive developments in the Binance ecosystem, including the Introduction of the Isolated Margin Auto-Transfer Mode. This feature enables…

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Altcoins

Solana Price Surges Beyond $100, Dethroning Ripple and BNB To Secure Fourth Place

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Solana price performance in recent times has been remarkable, surpassing Ripple and Binance Coin to become the fourth-largest cryptocurrency by market cap. The SOL price breached the critical level of $100 for the first time since April 2022 over the weekend to imbue optimism among investors. However, the altcoin has corrected by 7%, suggesting that the market is overheated. At the time of writing, the ‘Ethereum killer’ was trading slightly lower at $111.60.

SOL Outlook

Solana price has made a significant recovery over the past few weeks, climbing above the psychological level of $100. The altcoin has been one of the best-performing assets this year, extending its year-to-date gains to more than 1,025%, with more gains recorded in the past month alone. However, even with such growth, analysts have noted that Solana has a bleak chance of topping its ATH of $260.

The reason behind this is the increase in supply relative to its value. In November 2021, when the Solana price hit its all-time high of $260, its total market capitalization was around $78 billion. Despite the value of the crypto asset being less than half of what it was at the top, its market cap is currently hovering near $50 billion.

This has been brought about by the increase in the Solana supply by more than 100 million SOL over the past two years. According to some analysts, for the altcoin to retest $260, its…

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Altcoins

Solana Price Skyrockets to 20-Month Peak Amidst Memecoin Frenzy

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Solana price has noted significant gains over the past few weeks, climbing to its highest level since April 2022. The ‘Ethereum Killer’ almost topped the crucial level of $100 on Friday, before pulling back slightly. The asset’s recent surge has catapulted Solana’s total market cap to $39.6 billion, ranking 5th after and above BNB and XRP, respectively. Solana has jumped by more than 22% in the past week and more than 80% in the month to date. At the time of writing, SOL price was trading 0.90% lower at $93.10.

Catalysts Behind SOL’s Rally

Solana price has been on a strong bull run over the past few days, rocketing to its highest level in 20 months as the network benefits from the substantial activity and strong interest in memecoins. The SOL token, the native digital asset of the high-performance blockchain platform Solana, has shown some serious strength over the past few weeks, outperforming all the altcoins in the market.

The recent surge in the Solana price has been linked to heightened on-chain activities on the Solana blockchain. Notably, the ongoing hype for the blockchain’s speedy transactions, cheap fees, and a lottery of meme coin issuances has buoyed SOL’s on-chain activity. Metrics have revealed that Solana has been the strongest draw among on-chain traders, with trading volumes and network fees outperforming Ethereum- the largest altcoin by market cap.

Cited figures provided by DeFi aggregator DeFiLlama

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